Governance

Summary

The Government Pension Fund Global (GPFG) is a sovereign wealth fund where the surplus wealth produced by Norwegian petroleum income is held. The fund changed name in January 2006 from its previous name the Petroleum Fund of Norway. The fund is commonly referred to as the Petroleum Fund (Norwegian: Oljefondet). It is not actually a pension fund as it derives its financial backing from oil profits and not pensioners.

In 2013, the NBIM created a corporate Governance Advisory Board to strengthen its long-term active ownership. The advisory board will assist in board nomination practices with regard to the sovereign fund’s listed equity investments. In addition, the board will serve as a body on active ownership and regularly assess NBIM’s ownership activities relative to optimal practices. Listed companies that undergo strategy shifts, takeovers or capital restructurings may receive board advice. Target companies will be firms in which the NBIM owns more than US$ 1 billion in shareholdings.

The Sovereign Wealth Fund Institute is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, central banks and other long-term public investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. We provide specialized services such as research and consulting to various corporations, funds and governments. The Sovereign Wealth Fund Institute delivers information and insights on current issues and trends related to sovereign wealth. Our flagship publication, the Sovereign Wealth Quarterly is the premier publication on sovereign wealth and other long-term public investors. In addition, the Sovereign Wealth Fund Institute facilitates sovereign fund, pension, superannuation fund and central bank events around the world.